Eletrobras May Sell $2.5 Billion of U.S. Bonds: New Issue Alert

Oct. 20 (Bloomberg) -- Centrais Eletricas Brasileiras SA,
Latin America’s largest publicly traded utility, is among
borrowers planning to sell at least $6.46 billion of bonds in
the U.S., according to data compiled by Bloomberg.

Companies sold $3.25 billion of bonds in the U.S.
yesterday, Bloomberg data show. They’ve issued $937.6 billion of
bonds this year, compared with $929.5 billion in the similar
period of 2010.

Following is a description of pending sales of corporate
and other bonds.

Investment Grade

INTER-AMERICAN DEVELOPMENT BANK, the lender that aims to
reduce poverty in Latin America, is planning to sell 30-year
bonds denominated in U.S. dollars, according to a person
familiar with the offering. The notes may be rated Aaa by
Moody’s Investors Service and AAA by Standard & Poor’s, said the
person, who declined to be identified because terms aren’t set.

(Added Oct. 20. See {ITAD US <Equity> CN <GO>}.)

CENTRAIS ELETRICAS BRASILEIRAS SA, Latin America’s largest
publicly traded utility, is seeking to sell as much as $2.5
billion of 10-year bonds, S&P said. Eletrobras, as the company
is known, may sell the bonds to yield between 5.75 percent and 6
percent, according to a person familiar with the offering.

(Updated Oct. 20. See {ELET3 BZ <Equity> CN <GO>}.)

BANCO DE BOGOTA SA, the unit of Grupo Aval Acciones y
Valores, plans to sell $1 billion of 10-year senior unsecured
notes denominated in U.S. dollars, Moody’s Investors Service
said on Sept. 22. Moody’s said that it would rate the proposed
notes Baa2.

(Updated Sept. 26. See {BOGOTA CB <Equity> CN <GO>.)

TRITON CONTAINER INTERNATIONAL LTD, the world’s largest
owner-lessor of marine intermodal cargo containers, plans to
sell $180 million of senior notes, according to a statement
distributed by Standard & Poor’s. S&P assigned a BBB issue-level
rating to the notes from the San Francisco-based company, which
leases dry van, open top and flat rack containers.

(Added Sept. 28. See {0870Z US <Equity> CN <GO>}.)

Split-Rated

UNION BANK OF INDIA LTD., the Mumbai-based lender that went
public in 2002, hired banks to help it arrange a series of
credit investor meetings in Asia and Europe, according to a
person with knowledge of the transaction. The bank may consider
a sale of dollar bonds thereafter subject to market conditions,
the person said, asking not to be identified as details are
private. Bank of America Corp., Barclays Plc, Citigroup Inc.,
HSBC Holdings Plc, Deutsche Bank AG and Standard Chartered Plc
are helping to arrange the meetings, the person said. The bank
is rated Ba1 by Moody’s and BBB- by S&P.

(Added Sept. 6. See {UNBK IN <Equity> CN <GO>}.)

Not Rated

CHESAPEAKE OILFIELD OPERATING LLC, a unit of Chesapeake
Energy Corp., plans to issue $500 million of senior notes due in
2019, according to a person familiar with the offering. Proceeds
may be used to redeem intercompany debt owed to Chesapeake
Energy, said the person, who declined to be identified because
terms aren’t set.

(Added Oct. 19. See {CHK US <Equity> CN <GO>}.)

BANCO BICE plans to sell $120 million of five-year bonds
denominated in U.S. dollars, said Diario Financiero, citing the
Santiago-based lender.

(Added Sept. 14. See {BICE CI <Equity> CN <GO>}.)

UCO BANK, a Kolkata, India-based state-owned bank, plans to
meet with debt investors in Hong Kong, London and Singapore
ahead of a possible sale of bonds denominated in U.S. dollars,
according to a person with direct knowledge of the matter. BNP
Paribas, Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co.
and Standard Chartered Plc will arrange the so-called non-deal
roadshows, said the person, who asked not to be identified
because he is not authorized to speak on the matter.

(Added Sept. 14. See {UCO IN <Equity> CN <GO>}.)

PRONACA will sell $50 million in bonds to help refinance
existing debt, the Bolsa de Valores de Quito said. Ecuador’s
biggest food processing company will sell the bonds, which have
maturities ranging from 3.2 years to 5.9 years, to yield between
6.25 percent and 7.25 percent, the exchange said in an e-mailed
statement.

(Added Aug. 30. See {0022505Z ED <Equity> CN <GO>}.)

AKKORD INDUSTRY CONSTRUCTION I, a civil engineering firm
based in Baku, Azerbaijan, plans to sell $100 million of bonds
in U.S. dollars, according to data compiled by Bloomberg. The
notes will be due in three years, the data show.

High Yield

ACADIA HEALTHCARE CO., the operator of behavioral health
centers, plans to sell $150 million of senior unsecured seven-year notes to help fund its merger with PHC Inc., according to a
person with knowledge of the transaction. Jefferies Group Inc.
is managing the sale, said the person, who declined to be
identified because terms aren’t set. Moody’s gave a B3 grade to
the proposed debt while S&P assigned a B- preliminary rating to
the securities.

(Added Oct. 18. See {737913Z US <Equity> CN <GO>}.)

ATLANTIC POWER CORP., the power producer that’s acquiring
Capital Power Income LP, plans to sell $460 million of senior
notes due in 2018, according to a statement. Proceeds will be
used to fund a cash portion of the acquisition, to pay
outstanding debt under Capital Power’s revolving credit line,
and possibly to fund additional growth opportunities and general
corporate purposes, the Boston-based company said in the
statement.

(Added Oct. 18. See {AT US <Equity. CN <GO>}.)

J.M. HUBER CORP., the maker of ingredients used in jellies,
beverages and toothpaste, plans to sell $225 million of eight-year senior notes that will be non-callable for four years,
according to a person with knowledge of the transaction. The
Edison, New Jersey-based company plans to use proceeds to pay
back outstanding borrowings on a revolving credit line and to
maintain liquidity before $125 million of debt matures in
October 2012, said the person, who declined to be identified
because terms aren’t set.

(Added Oct. 18. See {3095Z US <Equity> CN <GO>}.)

KINETIC CONCEPTS INC., the wound-care company that’s being
purchased by Apax Partners Inc., plans to sell $1.65 billion of
senior secured notes denominated in euros and dollars. The
company canceled plans to issue $900 million in unsecured bonds
denominated in dollars, according to a person familiar with the
offering who declined to be identified because terms aren’t set.
Moody’s assigned the debt a grade of B3 and S&P ranked them.

(Added Oct. 11. See KCI US .)

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE,
or VietinBank, may offer a coupon of 5 percent to 6 percent on
its planned $500 million overseas bond sale, Chairman Pham Huy
Hung said in an interview in Hanoi on Sept. 15. The lender is
“determined to sell the bonds within this year,” said Hung.

(Updated Sept. 19. See {CTG VN <Equity> CN <GO>}.)

MANNKIND CORP., the biotechnology company founded by
billionaire investor Alfred Mann, plans to raise $370 million by
selling senior secured discount notes due 2017, the Valencia,
California-based firm said in a Sept. 23 statement distributed
by Business Wire. Proceeds may be used to complete Phase 3
clinical trials of MannKind’s lead product candidate, Afrezza,
preparing for the commercialization of Afrezza, continuing to
build out a Danbury, Connecticut, factory and for research and
development, according to the statement.

(Added Sept. 26. See {MNKD US <Equity> CN <GO>}.)

EMPRESA DE ENERGIA DE BOGOTA SA, Colombia’s second-biggest
electricity transporter, hired Deutsche Bank AG and Banco
Santander SA to sell bonds overseas, according to a person
familiar with the offering. Bogota-based EEB, as the utility is
known, may seek to sell bonds that mature in 10 years, said the
person who declined to be identified because terms aren’t set.

(Added Aug. 22. See {EEB CB <Equity> CN <GO>}.)

YPF SA, Argentina’s dominant integrated oil company, may
sell $300 million to $600 million of dollar-denominated eight-year notes, according to a July 8 note from Fitch Ratings, which
rates the bonds BB-. The proceeds of the offering of senior
unsecured notes may be used for general corporate purposes,
mainly capital investments and working capital needs, according
to the note.

(Added July 12. See {YPFD AR <Equity> CN <GO>}.)

PROBUSINESSBANK hired BCP Securities LLC and UBS AG to
arrange meetings with investors in Asia and Europe for a
possible sale of bonds in dollars, said a banker with knowledge
of the deal, who declined to be identified because terms aren’t
set. The Russian lender is rated B2 by Moody’s.

(Added June 3. See {PBZB RU <Equity> CN <GO>}.)

Offerings in Pipeline

UNITED TECHNOLOGIES CORP., the maker of Pratt & Whitney jet
engines, may raise $12 billion of debt to help finance its $16.5
billion acquisition of Goodrich Corp., Chief Financial Officer
Greg Hayes told analysts on a conference call on Sept. 22. Most
of the debt will mature within five years, he said.

(Added Sept. 26. See {UTX US <Equity> CN <GO>}.)

CODELCO, the world’s largest copper producer, will look to
sell bonds to help finance a record $4 billion investment in its
Chilean mines next year, Chief Executive Officer Diego Hernandez
said.

(Added July 11. See {1006Z CC <Equity> CN <GO>}.)

ENTERGY LOUISIANA LLC, the unit of the New Orleans-based
power company, plans to sell about $206 million of bonds,
according to a company statement. The offering was delayed and
reauthorized after the utility violated regulations by
publicizing the sale in the wrong newspapers, the Associated
Press said on Aug. 11.

(Updated Aug. 17. See {ETR US <Equity> CN <GO>}.)

ISLAMIC BANK OF THAILAND, the nation’s state-owned bank,
may sell $150 million of Sharia-compliant bonds overseas, the
bank’s president Dheerasak Suwannayos, told reporters.

(Added June 30. See {6550Z TB <Equity> CN <GO>}.)

DOLPHIN ENERGY LTD., the Dubai-based natural gas producer,
will be “actively monitoring the market” and will release
terms on its planned dollar benchmark bond issue in an
“appropriate window of execution,” the company said in an e-mailed statement.

ROMANIA has started work on upgrading its medium-term note
program to include dollar-denominated notes, Deputy Finance
Minister Bogdan Dragoi said at a conference in Bucharest. The
ministry will have the option to sell bonds in either dollars or
euros, he said.

(Added June 20. See {1089Z RO <Equity> CN <GO>}.)

THE NETHERLANDS may sell “a few billion” of dollar-denominated bonds this year, according to the Dutch State
Treasury Agency. The securities are likely to have five-year
maturities, Peter Nijsse, the head of cash management, issuance
and trading at the agency, said in an interview following a
media presentation in London on June 10. The Netherlands is
rated AAA by Standard & Poor’s and Aaa by Moody’s Investors
Service.

(Added June 13. See {TNI NETHER NEWBON <GO>}.)

CODERE SA, Spain’s only publicly traded gambling operator,
may sell its first dollar-denominated bonds to refinance
existing debt in euros, Chief Financial Officer David Elizaga
said in an interview. Codere, which has 760 million euros ($1.1
billion) of bonds maturing in 2015, will sell “certainly a
minimum of $400 million” in the securities that will help the
company buy back debt and extend maturities to 2018 or 2019, he
said.

(Added June 9. See {CDR SM <Equity> CN <GO>}.)

EL TEJAR SA, the world’s largest grain producer, plans to
sell as much as $300 million of bonds in the U.S. this year
before a planned initial public offering, according to the
company’s chief financial officer. The Buenos Aires-based
company could accelerate plans for the IPO depending on investor
reaction to the sale of between $200 million and $300 million of
bonds maturing in seven to 10 years, Chief Financial Officer
Mario Lorencatto said.

(Added May 10. See {2334604Z AR <Equity> CN <GO>}.)

BHARTI AIRTEL LTD., India’s biggest mobile-phone operator,
plans to raise $750 million selling its first overseas bonds,
according to Fitch Ratings. Fitch graded the notes BBB-, the
lowest investment grade, according to a statement from the
ratings company.

(Added May 2. See {BHARTI IN <Equity> CN <GO>}.)

CHINA AUTOMATION GROUP LTD. plans to issue $200 million of
senior notes due 2016 to yield 7.75 percent, the company said in
a statement to the Hong Kong stock exchange on April 14. UBS AG
will lead the sale of the issue, for which conditions and terms
are yet to be decided, it said.

(Updated May 16. See {569 HK <Equity> CN <GO>}.)

ASTON RESOURCES LTD., the Australian mineral exploration
company, is considering selling bonds in the U.S. to help raise
funds to develop its Maules Creek coal project in New South
Wales, Chief Executive Officer Todd Hannigan said at a business
luncheon in Sydney on March 3. Aston may raise $300 million to
$500 million, he said.

(Added March 7. See {AZT AU <Equity> CN <GO>}.)

MONGOLIA is planning its first sale of sovereign bonds,
seeking about $500 million, to establish a benchmark that would
help companies from the resource-rich nation located between
China and Russia raise funds from credit markets. The issue will
be used to finance expansion of the mining industry and build
roads and bridges, President Tsakhia Elbegdorj said in an
interview at Bloomberg’s headquarters in New York.

(Updated June 20. See {NI MONGOL <GO>}.)

AVG TECHNOLOGIES, the Czech maker of Internet security
software, plans to sell bonds to U.S. investors to raise money
for dividends and acquisitions, Siobhan MacDermott, AVG’s
Prague-based investor relations officer, said in an interview
Feb. 10. The producer of a free antivirus program that competes
with McAfee Inc. and Symantec Corp. is seeking to raise $300
million of debt, MacDermott said.

(Added Feb. 14. See {3412012Z CP <Equity> CN <GO>}.)

TATA STEEL LTD., India’s biggest producer of the alloy,
plans to sell $500 million of debt by the middle of this year,
CNBC-TV18 news channel reported, without saying where it got the
information.

(Added Feb. 9. See {TATA IN <Equity> CN <GO>}.)

GAIL INDIA LTD., the nation’s largest natural gas
distributor, plans to borrow $300 million overseas, P.K. Jain,
director of finance, said in a telephone interview on Sept. 12.

(Updated Sept. 19. See {GAIL IN <Equity> CN <GO>}.)

AL BARAKA BANK EGYPT ESC, a unit of Bahrain-based Albaraka
Banking Group, may sell dollar-denominated Islamic bonds in the
second half of 2011, the bank’s chairman said Sept. 29. The bank
hasn’t decided on the size of the bond, he said.